The President of the Russian Federation signed a Decree determining a special procedure for carrying out transactions with shares in the authorized capitals of Russian companies.
According to the text of the Decree, transactions with shares in the authorized capitals of Russian LLC can be carried out only on the basis of special permits of the Government Commission for the Control of Foreign Investments in the Russian Federation. This refers to transactions involving:
The restriction is applied to transactions that directly and (or) indirectly entail the establishment, modification or termination of the rights of ownership, use or disposal of shares in the authorized capital of Russian LLC. Therefore, depending on the provisions of an agreement, it may be necessary to obtain permit from a Government commission, including for the conclusion of corporate contracts, options, and collateral shares.
At the same time, the new rules are not applied to:
The Government of the Russian Federation will determine the procedure for issuing permits separately in its Resolution.
Acsour carefully monitors these legislative changes and will inform you about the latest news on this topic.